Peter Buffett stakes RadioMilwaukee campaign to buy building

As Peter Buffett put it, the goal of creating a new radio station “was to pull Milwaukee through the speakers.” That it has.

In five short years, WYMS-FM (88.9), known as “RadioMilwaukee,” has built itself a local reputation as a go-to spot for the community and has earned a national reputation for its incredible listener support.

Now, the station will take a significant leap forward as it is attempting a capital campaign to purchase a building in Milwaukee’s Walker’s Point neighborhood, 158 S. Barclay St., to use for its studios and frequent live music events.

Buffett, who lived in Milwaukee earlier in his career, is the son of investor Warren Buffett. Peter and his wife, Milwaukee native Jennifer Buffett, now live on a farm they purchased outside New York City and run the NoVo Foundation.

While Peter was a founder of the station, and along with Astor Street Foundation, has staked the capital campaign with a $500,000 lead gift, Peter has made it clear that, like in his previous efforts at fundraising, he can’t be in this alone.

“I want other donors to know I am there alongside them, though,” he said in an interview.

He should have plenty of help. RadioMilwaukee has had incredible success, with one-third of its budget, nearly $500,000 annually, coming from listeners.

It also has a growing fan base among Milwaukee corporations, many of whom attended a kickoff to the campaign last week at Ken Krei’s recording studio in St. Francis.

Mary Louise Mussoline, executive director of the station, said the building purchase and renovation would take about $2.5 million and the goal of the early campaign is to raise half to allow the purchase to move forward. The timeline is tight: Her goal is to close the purchase in early 2013 and have the station up and running later in the year.